Canary's XRPC Tops 2025 Debuts with $58M Day-One Volume
Canary Capital's XRPC, the first U.S. spot exchange-traded fund tied to payments-focused token XRP, logged $58 million in trading volume on its first day, marking the biggest opening-day total of any ETF launched in 2025. Bloomberg ETF analyst Eric Balchunas highlighted the figure as the top debut across more than 900 fund launches this year, underlining unusually strong initial demand for a token-specific spot product.
The result is noteworthy because spot ETFs have become a major pipeline for crypto flows, and XRPC’s strong start could encourage other issuers considering XRP exposure. Market watchers will be tracking subsequent daily volumes, assets under management and liquidity metrics to see if the interest holds beyond the debut. For investors, the launch represents another step in the institutionalization of token-based products and a new avenue to access XRP without direct custody of the token.